Dana (DAN) Upgraded at UBS Group

UBS Group upgraded shares of Dana (NYSE:DAN) to a neutral rating in a research note released on Friday, The Fly reports.

A number of other research firms have also recently issued reports on DAN. Guggenheim reissued a buy rating and set a $40.00 price objective on shares of Dana in a research report on Wednesday, January 10th. Barclays reiterated a hold rating and issued a $32.00 price objective on shares of Dana in a research note on Tuesday, January 9th. ValuEngine lowered Dana from a strong-buy rating to a buy rating in a research note on Friday, December 1st. Deutsche Bank lifted their price objective on Dana from $24.00 to $30.00 and gave the stock a hold rating in a research note on Friday, November 17th. Finally, Zacks Investment Research upgraded Dana from a hold rating to a buy rating and set a $33.00 price objective on the stock in a research note on Tuesday, February 6th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $30.45.

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Shares of Dana (NYSE DAN) traded up $0.94 during midday trading on Friday, hitting $27.14. The company had a trading volume of 5,330,000 shares, compared to its average volume of 2,010,000. The company has a quick ratio of 1.12, a current ratio of 1.69 and a debt-to-equity ratio of 1.58. The firm has a market cap of $4,080.00, a PE ratio of 13.64 and a beta of 1.79. Dana has a twelve month low of $17.53 and a twelve month high of $35.27.

Dana (NYSE:DAN) last released its quarterly earnings data on Tuesday, February 13th. The auto parts company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.09. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Dana had a return on equity of 30.70% and a net margin of 1.54%. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. sell-side analysts expect that Dana will post 2.8 EPS for the current year.

Dana announced that its board has authorized a stock repurchase plan on Wednesday, January 17th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 2nd will be paid a $0.10 dividend. This is a positive change from Dana’s previous quarterly dividend of $0.06. This represents a $0.40 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, March 1st. Dana’s dividend payout ratio is currently 20.10%.

In other news, insider Aziz Aghili sold 12,624 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $33.12, for a total value of $418,106.88. Following the sale, the insider now directly owns 18,024 shares in the company, valued at approximately $596,954.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark E. Wallace sold 40,339 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $33.42, for a total value of $1,348,129.38. Following the completion of the sale, the executive vice president now owns 108,139 shares in the company, valued at $3,614,005.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,207 shares of company stock worth $2,870,602. Corporate insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in DAN. Anchor Bolt Capital LP boosted its holdings in shares of Dana by 101.2% in the 3rd quarter. Anchor Bolt Capital LP now owns 2,666,372 shares of the auto parts company’s stock worth $74,552,000 after acquiring an additional 1,341,353 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in Dana during the 4th quarter worth $31,168,000. Goldman Sachs Group Inc. lifted its holdings in Dana by 19.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,722,951 shares of the auto parts company’s stock worth $151,182,000 after buying an additional 771,233 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Dana by 540.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 903,027 shares of the auto parts company’s stock worth $28,906,000 after buying an additional 762,027 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Dana by 4.2% during the 4th quarter. BlackRock Inc. now owns 15,675,484 shares of the auto parts company’s stock worth $501,773,000 after buying an additional 626,094 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

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